PRE$-$TEST

Problem #$4$ of $19$

A purchase of $$12,000$ is omitled from both the Purchases account and ending eventory and is not recorded in the succeeding year. The current year effect would set that:

$13.$ Income is correct.

$2$

b$.$ ending inventory is overstated by $$12,000.$

$3$

c$.$ accounts payable is overstated by $$12,000.$

d$.$ income is overstated by $$12,000.$

$$

$21$